The response to the global financial turmoil in Italy: 'A financial system that does not speak English'

Lucia Quaglia*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


Addressing the response to the global financial turmoil in Italy, it is argued that in comparison with other financial systems in Europe and worldwide, the Italian financial system has not been dramatically affected by the financial turmoil for two main reasons: the solid framework for financial regulation and supervision and the traditional unsophisticated configuration of financial activities in Italy. However, the economic recession that hit the real economy as a consequence of the financial market turmoil is likely to be heavy and prolonged in Italy.

Original languageEnglish
Pages (from-to)7-18
Number of pages12
JournalSouthern European Society and Politics
Issue number1
Publication statusPublished - 1 Mar 2009


  • Banks
  • Financial crisis
  • Financial regulation
  • Financial supervision
  • Italy
  • Rescue plan

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